Orion Capital Management LLC Acquires 12,179 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Orion Capital Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,900.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,820 shares of the information services provider’s stock after purchasing an additional 12,179 shares during the period. Alphabet accounts for 1.0% of Orion Capital Management LLC’s portfolio, making the stock its 22nd largest holding. Orion Capital Management LLC’s holdings in Alphabet were worth $1,226,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spreng Capital Management Inc. lifted its holdings in shares of Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after acquiring an additional 5 shares during the period. Grand Central Investment Group lifted its holdings in shares of Alphabet by 1.4% during the second quarter. Grand Central Investment Group now owns 362 shares of the information services provider’s stock valued at $789,000 after acquiring an additional 5 shares during the period. Ignite Planners LLC lifted its holdings in shares of Alphabet by 1.4% during the second quarter. Ignite Planners LLC now owns 351 shares of the information services provider’s stock valued at $834,000 after acquiring an additional 5 shares during the period. Kaizen Financial Strategies lifted its holdings in shares of Alphabet by 0.7% during the second quarter. Kaizen Financial Strategies now owns 759 shares of the information services provider’s stock valued at $1,654,000 after acquiring an additional 5 shares during the period. Finally, West Family Investments Inc. lifted its holdings in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after acquiring an additional 6 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 182,312 shares of the company’s stock in a transaction dated Wednesday, November 9th. The shares were bought at an average price of $34.60 per share, for a total transaction of $6,307,995.20. Following the purchase, the insider now owns 1,294,527 shares in the company, valued at $44,790,634.20. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 661,702 shares of company stock worth $23,399,217 and have sold 190,744 shares worth $8,564,640. Company insiders own 11.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on GOOGL. Robert W. Baird cut their price objective on Alphabet to $120.00 in a report on Thursday, October 27th. Citigroup cut their price target on Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Cowen cut their price target on Alphabet to $135.00 in a report on Thursday, October 27th. Rosenblatt Securities cut their price target on Alphabet from $156.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Finally, Credit Suisse Group cut their price target on Alphabet from $134.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Five research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.13.

Alphabet Price Performance

Shares of GOOGL opened at $98.02 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The stock has a 50 day simple moving average of $93.03 and a 200 day simple moving average of $101.55. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $151.55. The firm has a market capitalization of $1.27 trillion, a PE ratio of 19.47, a P/E/G ratio of 1.72 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). The firm had revenue of $57.27 billion during the quarter, compared to the consensus estimate of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same quarter in the previous year, the firm posted $1.40 EPS. Sell-side analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Alphabet Profile

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.